TYLER, Texas, Jan. 6, 2011 /PRNewswire/ -- Texas Rare Earth Resource (Pink Sheets: TRER) today announced it has hired SRK Consulting (U.S.), Inc. [SRK] to provide initial expertise and guidance as to the company's sampling and testing process and procedures as it progresses towards its objective of being compliant with National Instrument 43-101 standards.
SRK has made a site visit to Texas Rare Earth's Round Top Rare Earth, Beryllium, Uranium Project located in Hudspeth County, Texas in January to interview geological staff, observe ongoing exploration procedures, review the historic database, and provide expertise and guidance on technical issues. Texas Rare Earth's Round Top project encompasses 860 acres under lease and an additional 9345 acres held by prospecting permits. This large and geologically diverse property includes massive fluorite-beryllium replacement deposits that have been extensively developed in the past and there is a well-defined geologic potential for additional massive rare earth-fluorite replacement deposits deeper in the section. There is widespread uranium mineralization exposed in drill holes and in mine workings under geologic conditions favorable for discovery of significant resources. The company is currently evaluating the approximately 1.6 billion ton mass of intrusive rhyolite described by the Texas Bureau of Economic Geology in 1990 as a large tonnage low grade resource of heavy rare earth and other rare elements. Initial sampling indicates a consistent heavy to light rare earth ratio of 70/30 for this entire deposit.
Texas Rare Earth Resources CEO Dan Gorski commented: "We are extremely excited to be working with a team as talented as SRK. They will help us design our process to the highest standards as we continue development work at our Round Top Mountain Rare Earth, Beryllium, Uranium project."
SRK is an internationally recognized independent consulting firm focused on all aspects of mine development and design. SRK Group comprises approximately 1,000 staff, offering expertise to the mining and metals sector in a wide range of resource engineering disciplines with 38 offices located on six continents. The SRK Group's independence is ensured by the fact that it holds no equity in any project. This permits the SRK Group to provide its clients with conflict-free and objective recommendations on crucial judgment issue.
This press release may contain forward-looking statements about the business, financial condition and prospects of the Company. Forward-looking statements, can be identified by the use of forward-looking terminology such as "believes," "projects," "expects," "may," "goal," "estimates," "should," "plans," "targets," "intends," "could," or "anticipates," or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward-looking statements in this press release include, without limitation, the Company's expectations of the value per metric ton of its mineral deposits, the percentage of heavy rare earth and ratio of heavy to light REE, the amount of metric tons contained in the Round Top rhyolite, ability to mine and economically process our mineral deposits, ability to sell our mineral product, expansion strategies, access to capital, access to joint venture partners, competition, regulatory risks, and other performance results. These statements are made to provide the public with management's current assessment of the Company's business. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, there can be no assurances that such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this press release.
About Texas Rare Earth
Texas Rare Earth Resources Corp.'s primary focus is developing its Round Top Mountain rare earth, beryllium, uranium deposit. Texas Rare Earth's common stock trades on the Pink OTC Market under the symbol TRER.
For Further Information please contact:
Dan Gorski-CEO: Texas Rare Earth Resources Corp.
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SOURCE Texas Rare Earth Resources Corp.